Harmony Gold Mining (NYSE:HMY) Stock Rating Upgraded by Wall Street Zen

Harmony Gold Mining (NYSE:HMY) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also weighed in on HMY. Zacks Research lowered shares of Harmony Gold Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Harmony Gold Mining in a research note on Wednesday, October 8th. HSBC upgraded Harmony Gold Mining from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Investec upgraded Harmony Gold Mining to a “hold” rating in a research note on Friday, October 10th. Finally, Hsbc Global Res raised Harmony Gold Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Harmony Gold Mining presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Harmony Gold Mining Stock Down 0.7%

Shares of NYSE:HMY opened at $21.80 on Friday. The business’s 50-day simple moving average is $19.70 and its 200 day simple moving average is $17.28. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. Harmony Gold Mining has a one year low of $9.58 and a one year high of $22.98.

Hedge Funds Weigh In On Harmony Gold Mining

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ariose Capital Management Ltd acquired a new stake in shares of Harmony Gold Mining during the third quarter valued at approximately $1,182,000. U S Global Investors Inc. grew its position in Harmony Gold Mining by 105.3% during the 2nd quarter. U S Global Investors Inc. now owns 307,960 shares of the mining company’s stock worth $4,302,000 after purchasing an additional 157,960 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Harmony Gold Mining during the 2nd quarter worth approximately $3,609,000. Envestnet Asset Management Inc. raised its stake in Harmony Gold Mining by 15.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 184,507 shares of the mining company’s stock valued at $2,578,000 after purchasing an additional 24,779 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Harmony Gold Mining by 43.0% in the second quarter. Ashton Thomas Private Wealth LLC now owns 343,243 shares of the mining company’s stock valued at $4,795,000 after purchasing an additional 103,150 shares in the last quarter. Institutional investors and hedge funds own 31.79% of the company’s stock.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a South Africa–based precious metals producer primarily engaged in the exploration, mining and processing of gold. The company operates a portfolio of underground and surface mining operations, targeting both reef-hosted and alluvial deposits. In addition to gold, Harmony’s activities encompass the extraction of copper as a byproduct at its Papua New Guinea operations.

In South Africa, Harmony’s mining footprint includes deep-level underground operations in the Witwatersrand Basin, where it employs a combination of conventional and mechanized mining methods.